Business/economics
Schneider Electric says the deal advances its vision of creating intelligent industrial ecosystems that connect physical assets with digital insights across the asset life cycle.
The firm’s latest analysis puts the bulk of the blame on a fragmented supply chain.
The supermajor said the fields are not expected to contribute meaningfully to its production profile by 2030.
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Shut-ins and planned production cuts have not affected crude prices, say industry experts.“It’s like trying to explain something that is unprecedented and seemingly unreal." -
Halliburton and Schlumberger write-off billions in asset value and signal that more job cuts are coming during the second quarter.
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It has now been nearly 3 months since the one-two punches of an unprecedented modern-day pandemic and a free fall in oil prices due to the oversupply of oil resulting from a tremendous, sudden drop in demand.
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Nymex WTI crude opened Monday on track for its worst day on record, falling nearly 40% to $11.05/bbl on the back of excess supply vs. low demand and dwindling storage capacity.
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The contracts were awarded in February. Petrofac said it is working with ADNOC to explore alternative options.
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A new report shows that the worst of the ongoing downturn may be soon over. A gradual recovery to global oil markets is expected to begin in the next few weeks.
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The planned JV is for one of three LNG terminals GCL is planning to build in China.
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The deal is part of the company’s divestment program targeting proceeds of $5 to 10 billion between 2018 and 2020.
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Not everybody suffers when US oil producers slash production. Among the beneficiaries could be US gas producers who will benefit because less oil production will mean a lot less gas on the US market.
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Exploration commitments are expected to dwindle in the current market environment.
